Thailand economy

Tourist rush bolsters outlook for Thai economy and currency

(Bloomberg) – Foreign tourist arrivals in Thailand are expected to exceed official forecasts with the lifting of pandemic-era restrictions, a rare positive for the country’s Covid-battered economy and currency. International arrivals will total 9.3 million this year, government spokesman Thanakorn Wangboonkongchana said on Wednesday, citing a tourism ministry forecast. This is 55% more than the […]

Thailand economy

Thai economy rebounds from Covid hits | The Guardian Nigeria News

Thailand’s economy grew 2.2% in the first quarter as exports and tourism rebounded after the easing of pandemic-related restrictions, the country’s main economic agency said on Tuesday. During the pandemic, Southeast Asia’s second-largest economy recorded its worst economic performance since the 1997 Asian financial crisis, with visitor numbers dropping by around 40 million a year. […]

Thailand economy

Thailand’s economy rebounded 2.2% in the first quarter

BANGKOK, Thailand — Thailand’s economy grew 2.2 percent in the first quarter as exports and tourism rebounded after pandemic-related restrictions were eased, the country’s main economic agency said Tuesday. During the pandemic, Southeast Asia’s second-largest economy recorded its worst economic performance since the 1997 Asian financial crisis, with visitor numbers dropping by around 40 million […]

Thailand economy

Thailand’s economy likely grew modestly in first quarter, stung by high inflation: Reuters poll | Investment News

BENGALURU (Reuters) – Thailand’s economy likely grew modestly in the first quarter, on the back of robust exports and an easing of COVID-19 restrictions and despite weak tourist arrivals and high inflation dampening spending consumption, according to a Reuters poll. Southeast Asia’s second-largest economy grew 2.1% in the January-March period from the same period a […]

Thailand economy

Thailand’s economy likely saw modest growth in the first quarter, stung by high inflation (Reuters poll)

Thailand’s GDP hits 2.1% YoY in Q1 vs. 1.9% in Q4 Q1 GDP seen at 0.9% q/q y/y vs. 1.8% in Q4 First quarter GDP data due Tuesday, May 17 at 01:30 GMT BENGALURU, May 13 (Reuters) – Thailand’s economy likely grew modestly in the first quarter, on the back of robust exports and an […]

Thailand economy

Thailand’s economy likely saw modest growth in the first quarter, stung by high inflation

BENGALURU – Thailand’s economy likely saw modest growth in the first quarter, on the back of robust exports and an easing of COVID-19 restrictions and despite low tourist arrivals and high inflation dampening spending consumption, according to a Reuters poll. Southeast Asia’s second-largest economy grew 2.1% in the January-March period from the same period a […]

Thailand economy

Economic aftershocks of the Russian invasion on the Thai economy

Nearly two months after Russian President Vladimir Putin decided to invade Ukraine, Asian countries are bracing for rising inflation and supply chain disruptions, following mounting sanctions on the Russian state. According to experts, the most affected Asian country is Thailand, where trading in raw materials with its European counterpart has become almost impossible. Different types […]

Thailand economy

Economic aftershocks of the Russian invasion on the Thai economy

Nearly two months after Russian President Vladimir Putin decided to invade Ukraine, Asian countries are bracing for rising inflation and supply chain disruptions, following mounting sanctions on the Russian state. According to experts, the most affected Asian country is Thailand, where trading in raw materials with its European counterpart has become almost impossible. Different types […]

Thailand economy

SCB sees stagflation in Thai economy

BANGKOK: Thailand’s economy has entered stagflation due to a fragile recovery and soaring prices, says an economist at the Economic Intelligence Center (EIC), a research unit of Siam Commercial Bank (SCB). A woman shops at a market in Bangkok on March 15. A higher inflation rate in Thailand could lead to a slower recovery in […]

Thailand economy

SCB sees stagflation in Thai economy

SCB sees stagflation in Thai economy War and inflation make recovery fragile A woman shops at a market in Bangkok on March 15. A higher inflation rate in Thailand could lead to a slower recovery in domestic spending than expected by the EIC. (Photo: Varuth Hirunyatheb) Thailand’s economy has entered stagflation due to a fragile […]

Thailand economy

central bank governor on inflation, tourism recovery

Inflation in Thailand will be largely “under control” as price pressures in the country are not as widespread as in some developed markets, the governor of the Bank of Thailand has said. Sethaput Suthiwartnarueput said the headline inflation rate would remain within the central bank’s target range of between 1% and 3%. Even though inflation […]

Thailand economy

Thai economy will return to pre-pandemic level in 2023, central bank governor says

BANGKOK, Dec 12 (Reuters): Thailand’s economy is expected to return to pre-pandemic levels in the first quarter of 2023 and its recovery will be slower than in some other countries in the region, the central bank governor said at a briefing. a business forum recently this week. . “Recovery will be slow and uneven…because Covid-19 […]

Thailand economy

Minister of Finance: Thai economy will recover in 2023

The government intends to pour 1 trillion baht into the economy which, together with positive figures from growing trade and export sectors, are expected to fuel all of the economic expansion slated for 2022. 300 billion baht have l The government’s injection will come from investments by state-owned enterprises, while another 600 billion comes from […]

Thailand economy

Thai economy expected to grow 2.8-3.7% in 2022 | World

In Phuket, Thailand (Photo: AFP) Bangkok (VNA) – Thailand’s economy is expected to recover in 2022, with growth of 2.8-3.7%, depending mainly on the severity of the Omicron variant, according to Kasikorn Research Center (K-Search). The Bangkok Post quoted Nattaporn Triratanasirikul, Deputy Managing Director of K-Research, as saying that travel restrictions and stricter hygiene measures […]

Thailand economy

Thailand’s economy likely contracted in third quarter due to COVID-19 restrictions

After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast Asia’s second-largest economy shrank 0.8% in July-September from a year earlier, according to forecasts medians of 13 economists surveyed. On a quarterly basis, gross domestic product (GDP) likely contracted by 2.5% seasonally adjusted over the same period after […]

Thailand economy

Thai economy likely contracted in third quarter due to COVID-19 restrictions – Reuters poll | Invest News

BENGALURU (Reuters) – Thailand’s economy likely returned to contraction in the last quarter, delaying a nascent recovery as strict restrictions to contain the spread of COVID-19 hit consumption and an already struggling tourism sector, said Reuters poll revealed. After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast […]

Thailand economy

Thailand’s economy likely contracted in third quarter due to COVID-19 restrictions

A view of Bangkok Harbor along the Chao Phraya River is photographed at sunset in Bangkok, Thailand on June 2, 2021. REUTERS / Athit Perawongmetha / File Photo Register now for FREE and unlimited access to Reuters.com Register Thailand’s GDP contracts 0.8% yoy in Q3 vs. + 7.5% in Q2 Q3 GDP seen at -2.5% […]

Thailand economy

Thailand’s economy will return to pre-pandemic levels in mid-2023, says SCB

BANGKOK, Oct. 10 (Xinhua): Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, expects the country’s economy to return to 2019 growth levels in mid-2023 in a context of improving national and international demand. The weakening of the damage caused by economic scars, including worsening business dynamics, increasingly fragile labor market conditions as well […]

Thailand economy

Thai economy rebounds after rebound in consumer confidence for the first time in 7 months

The UTCC said the consumer confidence score rose to 48.9 in September from 46.7 in August, thanks to the easing of COVID-19 restrictions in 29 dark red provinces, while the combined economic size of these provinces represent 80% of the national GDP. The relaxation of COVID-19 measures and the use of vaccination have led to […]

Thailand economy

Medical marijuana industry to ignite Thailand’s economy

Thailand is fast becoming the main competitor in the Asian medical marijuana and hemp markets. However, full commercialization of the sector and liberal access for private companies is not expected to be implemented until 2024, according to a new report. The Thai medical cannabis market is characterized by high potential. Having rapid regulatory changes and […]

Thailand economy

Thai baht continues to collapse as foreign investors leave Thailand

Krungthai Bank market strategist Poon Panichpibool yesterday reported that the Thai baht is likely to hover between 32.80 and 32.95 as foreign investment continues to leave the Kingdom. He said foreign investors decided to sell their assets in Thailand due to the uncertainty caused by the Covid-19 situation in the country. He too would lead […]

Thailand economy

Will New Marijuana and Hemp Oil Regulations Boost Thailand’s Economy?

In 2019, Thailand became the first country in Southeast Asia to legalize the use of medical marijuana – although several key restrictions remain in place. The government ban on marijuana plants and products containing significant amounts of THC (the psychoactive compound that produces a high) remains in place, although other parts of the plant have […]

Thailand economy

Thailand’s economy and COVID-19: five things to know

Like many countries, Thailand’s economy was hit hard by the COVID-19 pandemic last year. The country’s GDP fell by more than 6% in 2020 and many workers, especially those linked to the tourism sector, lost their jobs. This is despite decisive action by the government to implement a set of fiscal, monetary and financial policies […]

Thailand economy

Five things to know about the Thai economy and COVID-19

A Bangkok vendor serving food in a take out box. Food services, accommodation, arts and entertainment have been hit hard by the economic downturn from COVID-19 in Thailand. (photo: Brostock via Getty Images) Five things to know about the Thai economy and COVID-19 By Stella Kaendera and Lamin LeighIMF Asia and Pacific Department June 23, […]

Thailand economy

Thai economy affected by third wave of COVID-19 | World

Illustrative image (Source: Xinhua / VNA) Bangkok (VNA) – Thailand’s GDP growth could drop to 1.6% if the government fails to stimulate its economy hit by the third wave of COVID-19[female[feminine infections, according to the University of the Thai Chamber of Commerce (UTCC). Despite maintaining his GDP growth forecast at 2.8%, the UTCC on April […]

Thailand economy

Pandemic Covid-19 Bitcoin Boom Fuels Thailand’s Mining Mania

The price of bitcoin, the world’s largest cryptocurrency, continues to hit new highs, reaching an all-time high of 1.7 million baht in April 2021. Although institutions and investors in Thailand and beyond Beyond have repeatedly warned against investing too much in what could be the biggest asset bubble of the century, Thai entrepreneurs are not […]

Thailand economy

Thailand’s economy hit hard by China-US trade war, strong baht and COVID-19

Thai exporters have been hit by the continued appreciation of the Thai baht. The currency’s strength was attributed to Thailand’s large current account surplus and foreign exchange reserves, supported by a strong economic base. BANGKOK – During a censorship debate targeting Prime Minister and Defense Minister General Prayut Chan-o-cha, Pheu Thai Party opposition MP for […]

Thailand economy

Thailand’s economy contracts most since 1997 due to collapse in tourism – World – The Guardian Nigeria News – Nigeria and World News

Thailand’s pandemic-wracked economy suffered its worst full-year performance in more than two decades, data showed Monday, with officials citing the toll of both a ravaged tourism industry and ongoing political upheaval. Last year’s 6.1% contraction was the worst since a 7.6% drop during the Asian financial crisis in 1997 and officials said they expected the […]

Thailand economy

Coronavirus pandemic speeds up cashless transactions in Thailand

Thailand is emerging as a society that uses less cash as consumers use digital networks and devices, with money transfer stimulus programs and the pandemic accelerating cashless transactions with PromptPay as the he whole world economy is moving towards a cashless world. Registration on PromptPay, the money transfer platform initiated by the government as part […]

Thailand economy

The Thai economy suffers the biggest economic recession since 1997

The Thai economy has suffered its biggest annual economic contraction since the Asian financial crisis of 1997 due to the fallout from the coronavirus. Encourage the government to reduce its GDP forecasts for 2020 and announce more stimulus measures. Data from the state planning agency showed that a 100% drop in foreign tourism dealt the […]

Thailand economy

Covid-linked tourism collapse fuels shrinking Thai economy

Thailand’s economy contracted at an annual rate of 12.2% in the April-June quarter, its biggest decline since the Asian financial crisis of the late 1990s. The data reflects a deterioration in business activity, with the country virtually closed to international travel due to the coronavirus pandemic. The economy shrank 2% in the first quarter of […]

Thailand economy

Major impact of COVID-19 on the Thai economy, vulnerable households and businesses

Short-cycle tertiary education (SPC) programs, such as technical degrees, tertiary careers, and advanced vocational training programs, can be a very effective tool in times of crisis like the current COVID-19 pandemic, when millions of people across Latin America and the Caribbean need the training and skills they need to urgently enter the formal labor market, […]

Thailand economy

Bank Expert predicts Thai economy to contract 8.9% in 2020

A Bank economist has predicted that Thailand’s economy is expected to contract 8.9% this year despite the easing of COVID-19 measures. Amonthep Chawla, head of the research bureau at CIMB THAI Bank (CIMBT), said that although Thailand was heading towards the fourth phase of easing the lockdown, with more businesses to reopen, the Thai economy […]

Thailand economy

Thai economy czar hit by party revolt at pandemic turn

BANGKOK – The Thai coalition government was rocked by an internal revolt within the pro-military Palang Pracharath party, the largest in the 19-party alliance, with political daggers targeting a technocratic and economic faction that was to open the way out of the coronavirus crisis. The upheaval was sparked this week after the abrupt resignation of […]

Thailand economy

Grab food delivery app cuts fees for traders in Thailand

Grab Food has reduced commission fees collected from food traders from 35% to 30% to meet the growing demand for food delivery amid the Covid-19 pandemic. The movement became effective yesterday as part of “GrabCares”, a campaign. “From April, GrabCares aims to mitigate the impact of the pandemic on the community,” Tarin Thaniyavarn, country chef […]

Thailand economy

Economy of Thailand: Analysts Expect Continued Growth in Southeast Asia

Travelers around the world know that each country’s economy is unique and typically represents the quality of life present at any given time. Of course, economic growth is usually determined by the activities of a country’s population. But with international trade and tourism functioning as key elements in the world, we can see that there […]

Thailand economy

The BoT announces that the Thai economy will shrink by 5.3% in 2020

Due to the coronavirus (COVID-19) epidemic, Thailand’s economy will contract significantly in 2020 and headline inflation will turn negative, the Bank of Thailand said in a press release. According to the latest data released by the Bank of Thailand, Thailand’s GDP could contract 5.3% in 2020, a sharp drop from its previous projections of 2.8% […]

Thailand economy

THACO exports 40 Kia Grand Carnival cars to Thailand – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Kia Grand Carnival cars are loaded into containers at THACO – Chu Lai Industrial Park in Quảng Nam Province for export to Thailand. – Photo courtesy of THACO HCM CITY – Trường Hải Auto Corporation, or THACO, exported 40 Kia Grand Carnival cars to Thailand. The vehicles, equipped with 2.2L diesel engines, were manufactured at […]

Thailand economy

Infrastructure, tourism and consumption: the three driving themes of the Thai economy

The result of the democratic elections and the coronation ensured “business as usual” for the Thai economy. The trade war between the United States and China has had an impact, with growth expectations of 3-4% now lowered to just under 3% There are a number of fast growing structural trends in the Thai economy including […]

Thailand economy

Thai economy grows slower than expected in third quarter of 2019

BANGKOK (BLOOMBERG) – Thailand’s economy grew slower than expected in the third quarter and the government lowered its growth forecast for the full year as the country grapples with the impact of the US trade war -Chinese and a strong currency. Gross domestic product rose 2.4% from a year ago, the National Council for Economic […]

Thailand economy

Vietnamese products shine in Thailand – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers visit a Vietnamese booth during “Vietnamese Week in Thailand 2019”, which officially opened on September 18 in Bangkok, Thailand. – VNS Photo Linh Anh HÀ NỘI – Vietnamese companies proudly showcase their products at “Vietnam Week in Thailand 2019”, which officially opened on September 18 in Bangkok, Thailand. This is the fourth consecutive year […]

Thailand economy

What does a rise in the baht mean for the Thai economy? – The diplomat

Advertising The Thai baht has been the best performing currency in Emerging Asia since 2018. Year over year, it has climbed more than 8% against the US dollar, and this year hit its highest level in six years. But according to headlines and comments, the hard currency has lowered the country’s competitiveness and worsened both […]

Thailand economy

Can Prayutnomics help the Thai economy? – The diplomat

Advertising As the controversial newly elected Thai government takes shape, one of the main areas that junta leader-turned-civilian Prime Minister Prayut Chan-o-cha will face is managing the economy, which has been of particular concern. for Southeast Asian State in recent years. These are not good times for Thailand’s economy. Lightly, a Bangkok Post An August […]

Thailand economy

Strength of Thai baht raises concerns over slowing Thai economy

A foreign exchange bank teller counting Thai baht banknotes in Bangkok, Thailand. Getty Images The Thai baht has soared against the US dollar this year, far more than many other emerging market currencies. This strength, however, is causing concern as the country’s domestic economy weakens, analysts said. Since the start of this year, the Thai […]

Thailand economy

Aging society and skills shortage, key issues in Thailand’s economy

June 13, 2019 Singapore, June 13, 2019 – – Thailand is likely to maintain continuity in infrastructure investment, following the country’s recent election results. But its aging society, subdued competitiveness and labor shortages remain major credit challenges. Moody’s Investors Service has just published an FAQ on the Government of Thailand (Baa1 stable), analyzing the prospects […]

Thailand economy

Strong baht: currency that beats the world adds to challenges for Thailand’s economy in 2019

The baht has surged on Thailand’s $ 207 billion foreign exchange reserves, a current account surplus and a weak dollar triggered in part by the Federal Reserve’s recent conciliatory trend. An increase in the baht adds to the challenges facing Thailand’s trade-dependent economy this year. The baht’s rise of around 5% against the dollar over […]

Thailand economy

The Problem with Thailand’s Economy – The Diplomat

Advertising When Thai coup plotters quickly disbursed over $ 3 billion owed to farmers from the deposed government’s politically crippled rice price subsidy program, it appeared that the country’s new military rulers had the will and the means to break the bureaucratic inertia which had blocked budgetary expenditure under successive elections. administrative. A year later, […]

Thailand economy

Thai economy sees signs of recovery in Q2

BANGKOK (Reuters) – Thailand’s central bank announced yesterday that Southeast Asia’s second-largest economy would avoid recession this quarter and said manufacturing and consumption “started to show signs of recovery” in May.The Bank of Thailand (BOT) issued its positive assessment while releasing a data set showing the economy, battered by months of political tensions, continued to […]